Barack Obama

i want to thank mayor bloomberg for hi extraordinari leadership __PUNCT__

at a time when washington is divid in old ideolog battl __PUNCT__ he show us what can be achiev when we bring_peopl togeth to seek pragmat solut __PUNCT__

not onli ha he been a remark leader for new york __PUNCT__ he ha establish himself as a major voic in our nation_debat on issu like renew our economi __PUNCT__ educ our children __PUNCT__ and seek energi_independ __PUNCT__

mr __PUNCT__ mayor __PUNCT__ i share your determin to bring thi countri togeth to final_make make_progress for the american_peopl __PUNCT__

in a citi of landmark __PUNCT__ we meet at cooper union __PUNCT__ just uptown from feder hall __PUNCT__ where georg_washington took the oath of offic as the first presid of the unit_state __PUNCT__

with all the histori that ha pass through the narrow canyon of lower manhattan __PUNCT__ it is worth take a moment to reflect on the role that the market ha plai in the develop of the american stori __PUNCT__

the great task befor our founder that dai wa put into practic the ideal that govern could simultan serv liberti and advanc the common_good __PUNCT__

for alexand_hamilton __PUNCT__ the young secretari of the treasuri __PUNCT__ that task wa bound to the vigor of the american_economi __PUNCT__

hamilton had a strong belief in the power of the market __PUNCT__

but he balanc that belief with the convict that human enterpris __PUNCT__ mai be benefici stimul by prudent aid and encourag on the part of the govern __PUNCT__

govern __PUNCT__ he believ __PUNCT__ had an import_role to plai in advanc our common prosper __PUNCT__

so he nation the state revolutionari_war war_debt __PUNCT__ weav togeth the economi of the state and creat an american_system of credit and capit_market __PUNCT__

and he encourag manufactur and infrastructur __PUNCT__ so product could be move to market __PUNCT__

hamilton met fierc opposit from thoma_jefferson __PUNCT__ who worri that thi brand of capit would favor the interest of the few over the mani __PUNCT__

jefferson prefer an agrarian economi becaus he believ that it would give individu landown freedom __PUNCT__ and that thi freedom would nurtur our democrat_institut __PUNCT__

but despit their differ __PUNCT__ there wa on thing that jefferson and hamilton agre on __PUNCT__ that econom_growth depend upon the talent and ingenu of the american_peopl __PUNCT__ that in order to har that talent __PUNCT__ opportun had to remain open to all __PUNCT__ and that through educ in particular __PUNCT__ everi american could climb the ladder of social and econom mobil __PUNCT__ and achiev the american_dream __PUNCT__

in the more than two centuri sinc then __PUNCT__ we have struggl to balanc the same forc that confront hamilton and jefferson __PUNCT__ self __PUNCT__ interest and commun __PUNCT__ market and democraci __PUNCT__ the concentr of wealth and power __PUNCT__ and the necess of transpar and opportun for each and everi citizen __PUNCT__

throughout thi saga __PUNCT__ american have pursu their dream within a free_market that ha been the engin of america progress __PUNCT__

it a market that ha creat a prosper that is the envi of the world __PUNCT__ and opportun for gener of american __PUNCT__

a market that ha provid great reward to the innov and risk __PUNCT__ taker who have made america a beacon for scienc __PUNCT__ and technolog __PUNCT__ and discoveri __PUNCT__

but the american_experi ha work in larg_part becaus we have guid the market invis_hand with a higher principl __PUNCT__

our free_market wa never meant to be a free licens to take whatev you can get __PUNCT__ howev you can get it __PUNCT__

that is why we have put in place rule of the road to make competit fair __PUNCT__ and open __PUNCT__ and honest __PUNCT__

we have done thi not to stifl __PUNCT__ but rather to advanc prosper and liberti __PUNCT__

as i said at nasdaq last __DATE__ __PUNCT__ the core of our econom_success is the fundament truth that each american doe better when all american do better __PUNCT__ that the well be of american_busi __PUNCT__ it capit_market __PUNCT__ and the american_peopl ar align __PUNCT__

i think all of us here todai would acknowledg that we lost that sens of share_prosper __PUNCT__

thi loss ha not happen by accid __PUNCT__

it becaus of decis_made in boardroom __PUNCT__ on trade floor and in washington __PUNCT__

under republican and democrat_administr __PUNCT__ we fail to guard against practic that all too often reward financi manipul instead of product and sound busi_practic __PUNCT__

we let the special_interest put their thumb on the econom scale __PUNCT__

the result ha been a distort market that creat bubbl instead of steadi __PUNCT__ sustain growth __PUNCT__ a market that favor wall_street over main_street __PUNCT__ but end up hurt both __PUNCT__

nor is thi trend new __PUNCT__

the concentr of econom_power __PUNCT__ and the failur of our polit_system to protect the american_economi from it worst excess __PUNCT__ have been a stapl of our past __PUNCT__ most famous in the 1920 __PUNCT__ when with success we end up plung the countri into the great_depress __PUNCT__

that is when govern step in to creat a seri of regulatori structur __PUNCT__ from the fdic to the glass __PUNCT__ steagal act __PUNCT__ to serv as a correct to protect the american_peopl and american_busi __PUNCT__

iron __PUNCT__ it wa in reaction to the high_tax and some of the outmod structur of the new deal that both individu and institut began push for chang to thi regulatori structur __PUNCT__

but instead of sensibl reform that reward success and freed the creativ forc of the market __PUNCT__ too often we excus and even embrac an ethic of greed __PUNCT__ corner cut and insid deal that ha alwai threaten the long __PUNCT__ term stabil of our econom_system __PUNCT__

too often __PUNCT__ we lost that common stake in each other prosper __PUNCT__

let me be clear __PUNCT__ the american_economi doe not stand still __PUNCT__ and neither should the rule that govern it __PUNCT__

the evolut of industri often warrant regulatori_reform __PUNCT__ to foster competit __PUNCT__ lower_price __PUNCT__ or replac outdat oversight structur __PUNCT__

old institut cannot adequ overse new practic __PUNCT__

old rule mai not fit the road where our economi is lead __PUNCT__

there were good_argument for chang the rule of the road in the 1990 __PUNCT__

our economi wa undergo a fundament shift __PUNCT__ carri along by the swift current of technolog chang and global __PUNCT__

for the sake of our common prosper __PUNCT__ we need to adapt to keep market_competit and fair __PUNCT__

unfortun __PUNCT__ instead of establish a __NUM___centuri regulatori framework __PUNCT__ we simpli dismantl the old on __PUNCT__ aid by a legal but corrupt bargain in which campaign monei all too often shape polici and water down oversight __PUNCT__

in do so __PUNCT__ we encourag a winner take all __PUNCT__ anyth goe environ that help foster devast disloc in our economi __PUNCT__

deregul of the telecommun sector __PUNCT__ for exampl __PUNCT__ foster competit but also contribut to massiv over __PUNCT__ invest __PUNCT__

partial deregul of the electr sector enabl market manipul __PUNCT__

compani like enron and worldcom took advantag of the new regulatori environ to push the envelop __PUNCT__ pump up earn __PUNCT__ disguis loss and otherwis engag in account fraud to make their profit look better __PUNCT__ a practic that led investor to question the balanc_sheet of all compani __PUNCT__ and sever damag public_trust in capit_market __PUNCT__

thi wa not the invis_hand at work __PUNCT__

instead __PUNCT__ it wa the hand of industri_lobbyist tilt the plai_field in washington __PUNCT__ an account industri that had develop power conflict of interest __PUNCT__ and a financi_sector that fuel over __PUNCT__ invest __PUNCT__

a decad later __PUNCT__ we have deregul the financi_servic servic_sector __PUNCT__ and we face anoth crisi __PUNCT__

a regulatori structur set up for bank in the 1930 need to chang becaus the natur of busi ha chang __PUNCT__

but by the time the glass __PUNCT__ steagal act wa repeal in __NUM__ the __MONEY___million lobbi_effort that drove deregul wa more about facilit merger than creat an effici regulatori framework __PUNCT__

sinc then __PUNCT__ we have overseen __NUM___centuri innov __PUNCT__ includ the aggress introduct of new and complex financi_instrument like hedg_fund and non __PUNCT__ bank financi compani __PUNCT__ with outdat __NUM___centuri regulatori tool __PUNCT__

new conflict of interest recal the worst excess of the past __PUNCT__ like the outrag new that we learn just yesterdai of kpmg allow a lender to report profit instead of loss __PUNCT__ so that both parti could make a quick buck __PUNCT__

not surprisingli __PUNCT__ the regulatori environ fail to keep pace __PUNCT__

when subprim_mortgag lend took a reckless and unsustain turn __PUNCT__ a patchwork of regul were unabl or unwil to protect the american_peopl __PUNCT__

the polici of the bush_administr threw the economi further out of balanc __PUNCT__

tax_cut without end for the wealthiest american __PUNCT__

a trillion_dollar war in iraq that didn't need to be fought __PUNCT__ paid for with deficit_spend and borrow from foreign creditor like china __PUNCT__

a complet disdain for pai __PUNCT__ as __PUNCT__ you __PUNCT__ go budget __PUNCT__ coupl with a gener scorn attitud toward oversight and enforc __PUNCT__ allow far too mani to put short __PUNCT__ term gain ahead of long_term consequ __PUNCT__

the american_economi wa bound to suffer a pain correct __PUNCT__ and policymak found themselv with fewer resourc to deal with the consequ __PUNCT__

todai __PUNCT__ those consequ ar clear __PUNCT__

i see them in everi corner of our great_countri __PUNCT__ as famili face foreclosur and rise_cost __PUNCT__

i seem them in town across america __PUNCT__ where a credit crisi threaten the abil of student to get loan __PUNCT__ and state can't financ infrastructur project __PUNCT__

i see them here in manhattan __PUNCT__ where on of our biggest invest_bank had to be bail out __PUNCT__ and the fed open it discount window to a host of new institut with unpreced implic we have yet to appreci __PUNCT__

when all is said and done __PUNCT__ loss will be in the mani hundr of billion __PUNCT__

what wa bad for main_street wa bad for wall_street __PUNCT__

pain trickl up __PUNCT__

that is why the principl that i spoke about at nasdaq is even more urgent true todai __PUNCT__ in our __NUM___centuri economi __PUNCT__ there is no divid_line between main_street and wall_street __PUNCT__

the decis_made in new york high __PUNCT__ rise have consequ for american across the countri __PUNCT__

and whether those american can make their hous payment __PUNCT__ whether thei keep their job __PUNCT__ or spend confid without fall into debt __PUNCT__ that ha consequ for the entir market __PUNCT__

the futur cannot be shape by the best __PUNCT__ connect lobbyist with the best record of rais_monei for campaign __PUNCT__

thi think is wrong for the financi_sector and it wrong for our countri __PUNCT__

i do not believ that govern should stand in the wai of innov __PUNCT__ or turn_back the clock to an older era of regul __PUNCT__

but i do believ that govern ha a role to plai in advanc our common prosper __PUNCT__ by provid stabl macroeconom and financi condit for sustain growth __PUNCT__ by demand transpar __PUNCT__ and by ensur fair competit in the marketplac __PUNCT__

our histori should give us confid that we don't have to choos between an oppress govern __PUNCT__ run economi and a chaotic and unforgiv capit __PUNCT__

it tell us we can emerg from great econom upheav stronger __PUNCT__ not weaker __PUNCT__

but we can do so onli if we restor confid in our market __PUNCT__

onli if we rebuild trust between investor and lender __PUNCT__

and onli if we renew that common_interest between wall_street and main_street that is the kei to our success __PUNCT__

now __PUNCT__ as most expert agre __PUNCT__ our economi is in a recess __PUNCT__

to renew our economi __PUNCT__ and to ensur that we ar not doom to repeat a cycl of bubbl and bust again and again __PUNCT__ we need to address not onli the immedi crisi in the hous_market __PUNCT__ we also need to creat a __NUM___centuri regulatori framework __PUNCT__ and pursu a bold opportun agenda for the american_peopl __PUNCT__

most urgent __PUNCT__ we must confront the hous_crisi __PUNCT__

after month of inact __PUNCT__ the presid spoke here in new york and warn against do too much __PUNCT__

hi main propos __PUNCT__ extend tax_cut for the wealthiest american __PUNCT__ is complet divorc from the realiti that peopl ar face around the countri __PUNCT__

john_mccain recent announc hi own plan __PUNCT__ and it amount to littl more than watch thi crisi happen __PUNCT__

while thi is consist with senat_mccain determin to run for georg_bush third term __PUNCT__ it won't help famili who ar suffer __PUNCT__ and it won't help lift our economi out of recess __PUNCT__

over two million household ar at risk of foreclosur and million more have seen their home valu plung __PUNCT__

mani american ar walk awai from their home __PUNCT__ which hurt properti valu for entir neighborhood and aggrav the credit crisi __PUNCT__

to stabil the hous_market and help bring the foreclosur crisi to an end __PUNCT__ i have sponsor senat chri_dodd legisl creat a new fha hous secur program __PUNCT__ which will provid meaning incent for lender to bui or refin exist mortgag __PUNCT__

thi will allow american face foreclosur to keep their home at rate thei can afford __PUNCT__

senat_mccain argu that govern should do noth to protect borrow and lender who made bad_decis __PUNCT__ or taken on excess risk __PUNCT__

on thi point __PUNCT__ i agre __PUNCT__

but the dodd __PUNCT__ frank packag is not a bailout for lender or investor who gambl recklessli __PUNCT__ as thei will take loss __PUNCT__

it is not a windfal for borrow __PUNCT__ as thei will have to share ani capit_gain __PUNCT__

instead __PUNCT__ it offer a respons and fair wai to help bring an end to the foreclosur crisi __PUNCT__

it ask both side to sacrific __PUNCT__ while prevent a long __PUNCT__ term collaps that could have enorm ramif for the most respons lender and borrow __PUNCT__ as well as the american_peopl as a whole __PUNCT__

that is what senat_mccain ignor __PUNCT__

for homeown who were victim of fraud __PUNCT__ i also propos a __MONEY___billion foreclosur prevent fund that would help them sell a home that is beyond their mean __PUNCT__ or modifi their loan to avoid foreclosur or bankruptci __PUNCT__

it also time to amend our bankruptci_law __PUNCT__ so famili aren't forc to stick to the term of a home_loan that wa predatori or unfair __PUNCT__

to prevent fraud in the futur __PUNCT__ i propos tough new penalti on fraudul lender __PUNCT__ and a home score system that will allow consum to find out more about mortgag offer and whether thei be abl to make payment __PUNCT__

to help low __PUNCT__ and middl __PUNCT__ incom_famili __PUNCT__ i propos a __NUM__ percent mortgag_interest tax_credit that will allow homeown who don't item their tax to access incent for home_ownership __PUNCT__

and to expand home ownership __PUNCT__ we must do more to help commun turn abandon properti into afford_hous __PUNCT__

the govern can't do thi alon __PUNCT__ nor should it __PUNCT__

as i said last __DATE__ __PUNCT__ lender must get ahead of the curv rather than just react to crisi __PUNCT__

thei should activ look at all borrow __PUNCT__ offer workout __PUNCT__ and reduc the princip on mortgag in troubl __PUNCT__

not onli can thi prevent the larger loss associ with foreclosur and resal __PUNCT__ but it can reduc the extent of govern_intervent and taxpay exposur __PUNCT__

beyond deal with the immedi hous_crisi __PUNCT__ it is time for the feder_govern to revamp the regulatori framework deal with our financi_market __PUNCT__

our capit_market have help us build the strongest economi in the world __PUNCT__

thei ar a sourc of competit_advantag for our countri __PUNCT__

but thei cannot succe without the public_trust __PUNCT__

the detail of regulatori_reform should be develop through sound analysi and public_debat __PUNCT__

but there ar sever core_principl for reform that i will pursu as presid __PUNCT__

first __PUNCT__ if you can borrow from the govern __PUNCT__ you should be subject to govern_oversight and supervis __PUNCT__

secretari paulson admit thi in hi remark yesterdai __PUNCT__

the feder_reserv should have basic supervisori author over ani institut to which it mai make credit avail as a lender of last resort __PUNCT__

when the fed step in __PUNCT__ it is provid lender an insur_polici underwritten by the american_taxpay __PUNCT__

in return __PUNCT__ taxpay have everi right to expect that these institut ar not take excess risk __PUNCT__

the natur of regul should depend on the degre and extent of the fed exposur __PUNCT__

but at the veri least __PUNCT__ these new regul should includ liquid and capit_requir __PUNCT__

second __PUNCT__ there need to be gener reform of the requir to which all regul financi_institut ar subject __PUNCT__

capit_requir should be strengthen __PUNCT__ particularli for complex financi_instrument like some of the mortgag secur that led to our current crisi __PUNCT__

we must develop and rigor manag liquid risk __PUNCT__

we must investig rate_agenc and potenti conflict of interest with the peopl thei ar rate __PUNCT__

and transpar requir must demand full_disclosur by financi_institut to sharehold and counterparti __PUNCT__

as we reform our regulatori system at home __PUNCT__ we must work with intern arrang like the basel committe on bank supervis __PUNCT__ the intern account standard board __PUNCT__ and the financi stabil forum to address the same_problem abroad __PUNCT__

the goal must be ensur that financi_institut around the world ar subject to similar rule of the road __PUNCT__ both to make the system stabl __PUNCT__ and to keep our financi institut competit __PUNCT__

third __PUNCT__ we need to streamlin a framework of overlap and compet regulatori_agenc __PUNCT__

reshuffl bureaucraci should not be an end in itself __PUNCT__

but the larg __PUNCT__ complex institut that domin the financi landscap do not fit into categori creat decad_ago __PUNCT__

differ institut compet in multipl market __PUNCT__ our regulatori system should not pretend otherwis __PUNCT__

a streamlin system will provid better oversight __PUNCT__ and be less costli for regul institut __PUNCT__

fourth __PUNCT__ we need to regul institut for what thei do __PUNCT__ not what thei ar __PUNCT__

over the last few year __PUNCT__ commerci_bank and thrift institut were subject to guidelin on subprim_mortgag that did not appli to mortgag_broker and compani __PUNCT__

it make no sens for the fed to tighten mortgag guidelin for bank when two __PUNCT__ third of subprim_mortgag don't origin from bank __PUNCT__

thi regulatori framework ha fail to protect homeown __PUNCT__ and it is now clear that it made no sens for our financi_system __PUNCT__

when it come to protect the american_peopl __PUNCT__ it should make no differ what kind of institut thei ar deal with __PUNCT__

fifth __PUNCT__ we must remain vigil and crack down on trade activ that cross the line to market manipul __PUNCT__

report have circul in recent dai that some trader mai have intention spread rumor that bear_stearn wa in financi distress while make market bet against the compani __PUNCT__

the sec should investig and punish thi kind of market manipul __PUNCT__ and report it conclus to congress __PUNCT__

sixth __PUNCT__ we need a process that identifi system_risk to the financi_system __PUNCT__

too often __PUNCT__ we deal with threat to the financi system that weren't anticip by regul __PUNCT__

that why we should creat a financi_market oversight commiss __PUNCT__ which would meet regularli and provid advic to the presid __PUNCT__ congress __PUNCT__ and regul on the state of our financi market and the risk that face them __PUNCT__

these expert view could help anticip risk befor thei erupt into a crisi __PUNCT__

these six principl should guid the legal reform need to establish a __NUM___centuri regulatori system __PUNCT__

but the chang we need goe beyond law and regul __PUNCT__ we need a shift in the cultur of our financi_institut and our regulatori_agenc __PUNCT__

financi_institut must do a better job at manag risk __PUNCT__

there is someth wrong when board of director or senior manag don't understand the implic of the risk assum by their own institut __PUNCT__

it time to realign incent and compens packag __PUNCT__ so that both high_level execut and employe better serv the interest of sharehold __PUNCT__

and it time to confront the risk that come with excess complex __PUNCT__

even the best govern_regul cannot fulli substitut for intern risk manag __PUNCT__

for supervisori agenc __PUNCT__ oversight must keep pace with innov __PUNCT__

as the subprim crisi unfold __PUNCT__ tough_question about new and complex financi_instrument were not ask __PUNCT__

as a result __PUNCT__ the public_interest wa not protect __PUNCT__

we do american_busi __PUNCT__ and the american_peopl __PUNCT__ no favor when we turn a blind_ey to excess leverag and danger risk __PUNCT__

final __PUNCT__ the american_peopl must be abl to trust that their govern is look out for all of us __PUNCT__ not just those who donat to polit_campaign __PUNCT__

i fought in the senat for the most extens ethic reform sinc waterg __PUNCT__

i have refus contribut from feder lobbyist and pac __PUNCT__

and i have laid out far __PUNCT__ reach plan that i intend to sign into law as presid to bring transpar to govern __PUNCT__ and to end the revolv_door between industri and the feder_agenc that overse them __PUNCT__

onc we deal with the immedi crisi in hous and strengthen the regulatori system govern our financi_market __PUNCT__ our final task is to restor a sens of opportun for all american __PUNCT__

the bedrock of our econom_success is the american_dream __PUNCT__

it a dream share in big_citi and small_town __PUNCT__ across race __PUNCT__ region and religion __PUNCT__ that if you work_hard __PUNCT__ you can support a famili __PUNCT__ that if you get sick __PUNCT__ there will be health_care you can afford __PUNCT__ that you can retir with the digniti and secur and respect that you have earn __PUNCT__ that your kid can get a good educ __PUNCT__ and young_peopl can go to colleg even if thei not rich __PUNCT__

that is our common hope across thi countri __PUNCT__

that is the american_dream __PUNCT__

but todai __PUNCT__ for far too mani american __PUNCT__ thi dream is slip awai __PUNCT__

wall_street ha been grip by increas gloom over the last nine month __PUNCT__

but for mani american_famili __PUNCT__ the economi ha effect been in recess for the past seven year __PUNCT__

we have just come through the first sustain period of econom_growth sinc world_war_ii that wa not accompani by a growth in incom for typic famili __PUNCT__

american ar work_harder for less __PUNCT__

cost ar rise __PUNCT__ and it not clear that we leav a legaci of opportun to our children and grandchildren __PUNCT__

that why __PUNCT__ throughout thi campaign __PUNCT__ i put_forward a seri of propos that will foster econom_growth from the bottom up __PUNCT__ and not just from the top down __PUNCT__

that why the last time i spoke on the economi here in new york __PUNCT__ i talk about the need to put the polici of georg w __PUNCT__ bush behind us __PUNCT__ polici that have essenti said to the american_peopl __PUNCT__ you ar on your own __PUNCT__ becaus we need to pursu polici that onc again recogn that we ar in thi togeth __PUNCT__

thi start with provid a stimulu that will reach the most vulner american __PUNCT__ includ immedi relief to area hardest hit by the hous_crisi __PUNCT__ and a signific extens of unemploy_insur for those who ar out of work __PUNCT__

if we can extend a hand to bank on wall_street __PUNCT__ we can extend a hand to american who ar struggl __PUNCT__

beyond these short_term measur __PUNCT__ as presid i will be commit to put the american_dream on a firmer foot __PUNCT__

to reward work and make retir secur __PUNCT__ we provid an incom_tax tax_cut of up to __MONEY__ for a work_famili __PUNCT__ and elimin incom_tax altogeth for ani retire make less than __MONEY__ per year __PUNCT__

to make health_care afford for all american __PUNCT__ we cut_cost and provid coverag to all who need it __PUNCT__

to put more american to work __PUNCT__ we creat million of new green_job and invest in rebuild our nation infrastructur __PUNCT__

to extend opportun __PUNCT__ we invest in our school and our teacher __PUNCT__ and make colleg afford for everi american __PUNCT__

and to ensur that america stai on the cut edg __PUNCT__ we expand broadband access __PUNCT__ expand fund for basic scientif_research __PUNCT__ and pass comprehens_immigr immigr_reform so that we continu to attract the best and the brightest to our shore __PUNCT__

i know that make these chang won't be easi __PUNCT__

i will not pretend that thi will come without cost __PUNCT__ though i have present wai we can achiev these chang in a fiscal_respons wai __PUNCT__

i know that we have to overcom our doubt and divis and the determin opposit of power special_interest befor we can truli advanc opportun and prosper for all american __PUNCT__

but i would not be run for presid if i didn't think that thi wa a defin moment in our histori __PUNCT__

if we fail to overcom our divis and continu to let special interest set the agenda __PUNCT__ then america will fall behind __PUNCT__

short __PUNCT__ term gain will continu to yield long __PUNCT__ term cost __PUNCT__

opportun will slip awai on main_street and prosper will suffer here on wall_street __PUNCT__

but if we unit thi countri around a common_purpos __PUNCT__ if we act on the respons that we have to each other and to our countri __PUNCT__ then we can launch a new era of opportun and prosper __PUNCT__

i know we can do thi becaus american have done thi befor __PUNCT__

time and again __PUNCT__ we recogn that common stake that we have in each other success __PUNCT__

that how peopl as differ as hamilton and jefferson came togeth to launch the world_greatest experi in democraci __PUNCT__

that why our economi hasn't just been the world greatest wealth creator __PUNCT__ it bound america togeth __PUNCT__ it creat_job __PUNCT__ and it made the dream of opportun a realiti for gener of american __PUNCT__

now it fall to us __PUNCT__

we have as our inherit the greatest economi the world ha ever known __PUNCT__

we have the respons to continu the work that began on that spring dai over two centuri_ago right here in manhattan __PUNCT__ to renew our common_purpos for a new centuri __PUNCT__ and to write the next chapter in the stori of america success __PUNCT__

we can do thi __PUNCT__

and we can begin thi work todai __PUNCT__